Last checked at 12 Jan 2022 09:15
Seed Innovations Ltd / AIM: SEED / Sector: Closed End Investments
12 January 2022
SEED Innovations Limited ("SEED" or the "Company")
Investee Company Update: Eurox Group
SEED Innovations Ltd, the AIM quoted company investing in fast growing and industry leading businesses with a focus on the medical cannabis, health and wellness space, is pleased to provide an update on its portfolio company Eurox Group ("Eurox"), a German-based, European vertically integrated medical cannabis company.
SEED is pleased to note that following a non-exclusive marketing and distribution agreement entered into between Eurox and AMP Alternative Medical Products GmbH ("AMP"), a wholly owned subsidiary of Greenrise Global Brands Inc., AMP are beginning the sale of Dronabinol produced by Eurox in Germany , with the aim for Dronabinol to be ready for sale in pharmacies beginning in February 2022.
SEED has an 8.85% shareholding in Eurox.
Highlights:
· Dronabinol is already a well-established product in Germany; it is pure Tetrahydrocannabinol (THC) and is registered as an active pharmaceutical ingredient (API) for sale by approved authorities in Germany
· AMP and Eurox entered into a non-exclusive marketing and distribution agreement for Dronabinol for sale in pharmacies beginning in February 2022
· Eurox was one of the first medical cannabis companies to produce Dronabinol that is 'Made in Germany', at one of Europe's largest GMP facilities located in Hessen, Germany
· Eurox controls the entire supply chain from cultivation, production to distribution ensuring the highest quality of product as well as guaranteeing stable and efficient supply to its customers
Ed McDermott, CEO of SEED, commented: "The latest announcement with AMP strengthens the position of Eurox as one of Europe's leading medical cannabis companies and allows further access to the German pharmaceutical and health market for Eurox's 'Made in Germany' products. Myself and the team at Seed are excited to continue our support and see further growth within the medical cannabis sector."
About Eurox Group
Eurox is a German-based, European vertically integrated medical cannabis company with:
· Fully owned German subsidiaries responsible for product development & holding IP.
· EU GMP manufacturing in Germany together with a German pharmaceutical partner.
· A cultivation facility in Portugal to secure vertical integration and supply independence.
· A significant minority ownership of Integro Medical Clinics, a UK registered medical cannabis clinic.
· Various high caliber distribution partnerships in Germany and other European countries & its own sales team.
For more information on Eurox, visit https://www.eurox-pharma.com
***ENDS***
For further information on the Company please visit www.seedinnovations.co or contact:
Ed McDermott Lance de Jersey | SEED Innovations Ltd | E: info@seedinnovations.co
|
James Biddle Roland Cornish | Beaumont Cornish Limited, Nomad | T: (0)20 7628 3396
|
Isabella Pierre Damon Heath | Shard Capital Partners LLP Broker | T: (0)20 7186 9927 |
Catherine Leftley Isabelle Morris | St Brides Partners Ltd, Financial PR | E: info@stbridespartners.co.uk |
Notes
SEED Innovations is an AIM quoted investment company focused primarily on disruptive high growth life sciences and technology businesses particularly within the medical cannabis arena. The Company's strategy is to identify early-stage opportunities that have an upcoming investment catalyst and grow its portfolio in terms of value whilst limiting the number of investee companies to a level where relevant time can be devoted to each.